Answer:
The chances of landing on blue are 1 in 4, or one fourth. The chances of landing on red are 1 in 4, or one fourth. This problem asked us to find some probabilities involving a spinner.
The lowest common denominator of 1/3 and 2/9 = 9
Month_1 Value = Month_0 Value * 0.95
Month_2 Value = Month_1 Value * 0.95 = Moth_0 Value * 0.95*0.95 = Month_0 Value * 0.95^2
Month _n Value = Month_0 Value * (0.95)^n
After 2 years ==> n = 24
Month_24 Value = Month_0 Value * (0.95)^24 = 2,000,000 *(0.95)^24 = 583,978.05
